|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 15, 2019||referred to governmental employees|
assembly Bill A1536
Current Bill Status - In Assembly Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Walter T. Mosley
Jo Anne Simon
A1536 (ACTIVE) - Details
A1536 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1536 2019-2020 Regular Sessions I N A S S E M B L Y January 15, 2019 ___________ Introduced by M. of A. ORTIZ, MOSLEY, FAHY, SIMON, THIELE, GOTTFRIED, SEAWRIGHT, O'DONNELL, STECK, ENGLEBRIGHT, CARROLL, GLICK, COLTON, BLAKE, NIOU, JAFFEE, RIVERA, DAVILA, RODRIGUEZ, ZEBROWSKI, BARRON, L. ROSENTHAL, WOERNER, GUNTHER, DINOWITZ, PEOPLES-STOKES -- Multi- Sponsored by -- M. of A. COOK -- read once and referred to the Committee on Governmental Employees AN ACT to amend the retirement and social security law, in relation to limitations on investments of public pension funds THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "fossil fuel divestment act". § 2. Section 423 of the retirement and social security law, as amended by chapter 770 of the laws of 1970, is amended to read as follows: § 423. Investments. [a.] 1. On and after April first, nineteen hundred sixty-seven, the comptroller shall invest the available monies of the common retirement fund in any investments and securities author- ized by law for each retirement system and shall hold such investments in his name as trustee of such fund, notwithstanding any other provision of this chapter. Participating interests in such investments shall be credited to each retirement system in the manner and at the time speci- fied in [paragraph] SUBDIVISION two of section four hundred twenty-two of this article. [b.] 2. (A) To assist in the management of the monies of the common retirement fund, the comptroller shall appoint an investment advisory committee consisting of not less than seven members who shall serve for his term of office. A vacancy occurring from any cause other than expi- ration of term shall be filled by the comptroller for the remainder of the term. Each member of the committee shall be experienced in the field of investments and shall have served, or shall be serving, as a senior officer or member of the board of an insurance company, banking corpo- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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